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LAPORAN
BERKELANJUTAN
SUSTAINABIliTY
REPORT
2024
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TABLE OF CONTENT
Table of Content ............................................................................................................................. i
Cover Letter .................................................................................................................................. iv
About Report ...................................................................................................................................v
CHAPTER I SUSTAINABILITY STRATEGY
I Sustainability Strategy Overview ........................................................................1
CHAPTER II SUMMARY OF SUSTAINABILITY ASPECT PERFORMANCE
I Economic Aspect ................................................................................................3
Eco-Friendly Product ..................................................................................3
II Environmental Aspect ........................................................................................3
III Social Aspect ......................................................................................................4
CHAPTER III COMPANY PROFILE
I Company Brief Profile ........................................................................................5
Sustainability Vision, Mission and Value ...................................................6
II General Information ...........................................................................................8
III Business Scale ....................................................................................................8
Number and Composition of Employees by Job Title ................................9
Number and Composition of Employees by Age Group ............................9
Number and Composition of Employees by Education ..............................9
Number and Composition of Employees by Employment Status ..............9
List of Shareholders ..................................................................................10
Share Ownerships by Board of Directors .................................................11
Areas of Operation ....................................................................................11
Address of Branch Offices ........................................................................12
Address of Marketing Offices ...................................................................12
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IV Product and Services Produced ........................................................................14
Premium Earned by Insurance Business Line ..........................................15
V Association Membership ..................................................................................15
VI Significant Changes ..........................................................................................15
CHAPTER IV BOARD OF DIRECTORS’ EXPLANATION
I Response to Achievement of Sustainable Performance Implementation .........18
II Implementation of Sustainable Finance ...........................................................18
III Strategies to Achieve Target .............................................................................19
IV Appreciation and Commitment to the Future ...................................................20
CHAPTER V SUSTAINABLE GOVERNANCE
I Person in Charge of Sustainable Finance Implementation ...............................21
II Development of Competency on Sustainable Finance .....................................22
III Risk Assessment on Sustainable Finance Implementation ...............................24
IV Relationship with Stakeholder ..........................................................................28
V Challenges in the Sustainability Implementation .............................................29
CHAPTER VI SUSTAINABLE PERFORMANCE
I Sustainable Cultural Building Activities ..........................................................31
II Economic Performance .....................................................................................31
Direct Economic Value Generated and Distributed ..................................31
III Environmental Performance .............................................................................31
Environmental Aspect ...............................................................................33
IV Social Performance ...........................................................................................33
Gender Equality ........................................................................................33
Number and Composition of Employees by Age Group ..........................34
Employee Turnover Rate ..........................................................................35
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Employee Development Training .............................................................35
Total Work Accident .................................................................................35
Employment Aspect ..................................................................................36
Public Aspect ............................................................................................36
Responsibility for Product Development ..................................................36
Customer Satisfaction Survey ...................................................................39
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About Report
This report is prepared guided by the sustainability principles, including accuracy, balance,
clarity, comparability, completeness, contextual sustainability, transparency, accountability,
responsibility, independence, fairness, timeliness, and reliable verification process. The
information presented covers positive and negative various impacts, along with their
management measures. All data is systematically prepared in various periods to provide a
performance comparability that reflects sustainability in the management of environmental,
social, and governance aspects of the Company.
This report covers the reporting period from January 1, 2024 to December 31, 2024, including
sustainability performance data from all the Company’s areas of operation. This report
represents the Company’s commitment to provide accurate, transparent, and accountable
information to all stakeholders. This report aims to provide a comprehensive overview of the
Company’s achievements in integrating sustainability principles into its various activities.
This sustainability report is the Company’s Fifth Sustainability Report and is an integral part
of the Company’s Annual Report as complementary unit regardless of separate publication.
Its preparation complies with the provisions of the Financial Services Authority Regulation
(POJK, Peraturan Otoritas Jasa Keuangan) No. 51/POJK.03/2017 and Circular Letter of the
Financial Services Authority (SEOJK, Surat Edaran Otoritas Jasa Keuangan) No.
16/SEOJK.04/2021. During the reporting period, there were significant changes that affected
the Company’s operations, the details of which may refer to Chapter III, Significant Changes.
By this periodically published report, the Company wishes for the sustainability principles to
be continuously implemented and improved in every aspect of its operations in the future.
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CHAPTER I
SUSTAINABILITY STRATEGY
Sustainability Strategy Overview
PT Asuransi Bintang Tbk (“Company”) is committed to becoming a company that prioritizes
sustainability by integrating sustainable finance principles into all aspects of its operations.
Going forward, the Company will focus on risk management by considering social and
environmental factors. In addition, the Company will increase operational efficiency through
digitalization and paper use reduction, and ensure that any strategic decision of the company
considers the long-term impact on society and the environment.
As a form of commitment to sustainability, the Company plans to gradually implement
various environmentally friendly initiatives. These steps include the use of electric vehicles,
more sustainable office waste management, and supporting greening and water
conservation programs around the Company’s environment. By implementing sustainability
supporting policies and practices, the Company intends to strengthen mutually beneficial
relationships with consumers, business partners, and the public, while contributing to the
achievement of sustainable economic development in the future.
In addition, the Company is also committed to present innovative insurance products that
not only provide protection, but also promote sustainability. Products such as climate
change-based insurance and microinsurance are expected to provide broader benefits, reach
more people, and play a role in creating a more environmentally friendly and inclusive
ecosystem.
Below are awards and certifications the Company has received from External Parties:
No Detail Activity Photo
1 TOP CHOICE OUTSTANDING INSURANCE
ACHIEVERS AWARDS 2024
The Most Preferred Insurance Company
in Providing Satisfactory Insurance
Solution of The Year 2024
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2 INFOBANK - DIGITAL BRAND AWARDS
2024
‘THE BEST’ CONVENTIONAL GENERAL
INSURANCE
Gross Premium IDR 250M - < IDR 500M
3 INDONESIA AWARDS MAGAZINE
‘No.1 Best in Insurance Winner 2024’
4 ISO/IEC 27001 : 2022
PT Asuransi Bintang Tbk has established
and applies an Information Security
Management System for Provision of Next
G Application for Operational Services
These awards reflect the quality of our services and commitment to customer satisfaction,
and our success in implementing the right strategies amidst the tight competition in the
insurance industry.
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CHAPTER II
SUMMARY OF SUSTAINABILITY ASPECT PERFORMANCE
I. Economic Aspect
Description Unit 2024 2023 2022
Asset Million Rupiah 900,259 970,378 989,811
Income Million Rupiah 333,479 378,280 459,218
Comprehensive Profit (Loss) Million Rupiah 9.899 5,827 5,148
Quantity of Products Policy Sold 490,551 908,672 221,425
Total Contribution to the State Million Rupiah 9,994 12,445 9,092
Eco-Friendly Product
No Product Name Product Description
1 Index-Based Crop Insurance This Index-Based Crop Insurance (ATBI, Asuransi Tanaman
Berbasis Indeks) product is intended to help farmers reducing
the climate/weather impacts. This product provides
insurance benefits in the form of payment if during the
coverage period there is insufficiency or excess in soil
humidity as compared to the agreed index of soil humidity
levels.
2 Motor Vehicle Insurance – Motor vehicle insurance product is intended for electric/low
Specifically (Electric/hybrid/low emission vehicles to reduce CO2 pollution levels in cities. Using
emission) motor vehicle insurance, this product is offered for sale
through direct selling distribution channels.
3 Eco-Friendly Home Insurance This insurance product is intended for houses that use eco-
friendly/energy-saving equipment such as solar panel, solar
water heaters, etc. Using property all-risk insurance, this
product is offered for sale through direct selling distribution
channels.
II. Enviromental Aspect
Description 2024 2023 2022
Paper Use (Ream) 845 820 740
Electric Power Consumption (Kwh) 323,963 296,892 193,993
Energy Consumption Intensity (KWh/m2) 64 58.8 38.5
Emission from Electric Power Consumption (Kg CO2e)* 255,930.77 234,544.68 152.47
Fuel Consumption (Operational Vehicle – IDR Million) 1,295 1,193 781
Fuel Consumption (Liter)** 129,500 119,300 78,100
Emission from Fuel Consumption (Kg CO2e) 299,015.50 275,463.70 180,332.90
*Calculation uses BI green calculator, with emission conversion factor: 0.79Kg CO2e/KWh
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** Using the assumption of Ron 90 price of IDR 10,000/L, and conversion factor: 2.309 Kg CO2e/L
III. Social Aspect
Description Description 2024 2023 2022
Total Employee Person 383 392 400
Total Male Employee Person 236 248 257
Total Female Employee Person 147 144 143
Employee Training and Development Person 383 392 400
Employee Training Person 383 392 400
Total Work Accidents during
Frequency Rate - - -
Operational Activities
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CHAPTER III
COMPANY PROFILE
Company Brief Profile
PT Asuransi Bintang Tbk, is an experienced general insurance Company in Indonesia,
established on March 17, 1955 by former 1945 independence fighters: Soedarpo
Sastrosatomo, Idham, Wibowo, Pang Lay Kim, Ali Budiardjo, Roestam Moenaf, J.R. Koesman
and Ismet. By continuously improving the quality of its human resources and systems and
procedures, PT Asuransi Bintang Tbk. continues to improve and develop for more than 6
decades. Founders of PT Asuransi Bintang Tbk have upheld and developed the Company’s
culture which is based upon effective governance, making it a Company that continues to
develop and provide balanced benefits to all stakeholders and services to the public. PT
Asuransi Bintang Tbk. has been registered and is overseen by the Financial Services Authority
(OJK, Otoritas Jasa Keuangan) with business license number KEP-6648/MD/1986 issued by
the Department of Finance of the Republic of Indonesia.
1971 1986 1997
PT Maskapai Asuransi Bintang PT Asuransi Kerugian Bintang PT Asuransi Bintang Tbk
The Company has changed its name several times. In 1971 it was registered for the first time
with the Department of Finance of the Republic of Indonesia under the name PT Maskapai
Asuransi Bintang, then in 1986 it changed to PT Asuransi Kerugian Bintang. The latest change
took place on August 25, 1997 pursuant to a Letter issued by the Department of Finance of
the Republic of Indonesia, Directorate General of Financial Institutions, Directorate of
Insurance, number S.4393/LK/1997 stating the coming into effect of the new name for PT
Asuransi Bintang Tbk, namely PT Asuransi Bintang Tbk, as concluded in Notarial Deed Mrs.
Indah Fatmawati, SH, Substitute Notary Mrs. Poerbaningsih Adi Warsito SH number 199
dated June 30, 1997 as approved by the Minister of Justice through Minister of Justice Decree
No. C2-6915 HT.01.04 Th. 97 dated July 31, 1997.
The Company carried out an Initial Public Offering (IPO) at Indonesia Stock Exchange (BEI,
Bursa Efek Indonesia) with Company’s code “ASBI” on November 29, 1989. Near the end of
2006 the Company carried out its first Limited Public Offering to secure additional capital in
order to improve its capacity to contain risks, and started to enter Sharia-based insurance
business in 2007.
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I. Sustainability Vision, Mission and Value
Sustainability Vision
“To be an insurance company that prioritizes balance between business and
environmental preservation”.
Mission in the implementation of sustainable finance
1) Provide support for the best services to customers in social and environmental
sectors.
2) Optimize business achievement through implementation of sustainable finance.
3) Build business relationship with business partners that prioritize sustainable finance
in order to maintain a long-term business relationship.
Corporate Values
1) Spirit
Always keep up the spirit of achieving the common goal set by the Company, as
elaborated below:
- Always maintain high level of activity and productivity in carrying out works;
- Always focus on targets & objectives;
- Always work with passion;
2) Customer Focus
Always provide the best services to customers, as elaborated below:
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- Understand the Customer needs;
- Take Customers and their needs as the ultimate goal of each action, through
excellent services;
- Develop and maintain good and productive relationship with customers.
3) Awareness
Aware of and responsible for the roles and duties assigned by the Company, as
elaborated below:
- Fully aware of the roles, duties and functions for which they are responsible;
- Perform their roles, duties and functions with full sense of responsibility and
mandate, and apply high standards for the development of the Company;
- Sensitive to work environment and able to respond to any inputs with positive
attitude.
4) Trust & Respect
Work honestly, sincerely and reliable in every work process, as elaborated below:
- Work honestly and sincerely;
- Mutual respect for roles and responsibilities in performing duties according to
the objectives and rules of the Company;
- Mutual trust between functions and always give trust for common good;
- Treat one another with respect;
- Help one another with creating positive and productive working culture.
5) Team Work
Mutual help, respect and honor between coworkers and with other parties working
as a team, as elaborated below:
- Always together build understanding, harmony, and commitment in team work
for the interests of the Company;
- Always respect the roles and responsibilities of each person in team work;
- Always respect and appreciate the opinion of others with positive attitude;
- Always avoid conflict of interests in order to achieve common goals;
- Always help one another and believe that success can be achieved only through
a solid and continuing team work between functions;
- Always have the will to sincerely work as a team rather than as an individual or
involving in an unfair competition.
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II. General Information
Company Name PT Asuransi Bintang Tbk
Address Jl. RS Fatmawati No. 32, Jakarta 12430
Line of Business General Insurance
Stock Code ASBI
Date of Establishment March 17, 1955
Type of Company Limited Liability Company
Legal Basis of Deed of Establishment No. 63 dated March 17, 1955
Establishment
Authorized Capital IDR 160,000,000,000.- Capital issued and IDR 87,096,618,000.-
(one hundred and sixty fully paid-up (eighty seven billion
billion rupiah) ninety six million six
hundred and eighteen
rupiah)
Company Contact Tel. (021) 7590 2777 (hunting)
Fax. (021) 7656 287, (021) 7590 2555
Call Center 1500481 (24 hours)
Email. corporate.secretary@asuransibintang.com
Web. www.asuransibintang.com
Social Media Facebook @asuransibintangtbk
Instagram @asuransibintangtbk
X (Twitter) @asuransibintang
Youtube asuransibintangofficial
Tiktok @asuransibintangofficial
Whatsapp +62 852-19553416
III. Business Scale
Information on the Company’s business scale includes:
Business Scale Summary Description 2024 2023 2022
Total Capitalization
Total Asset Million Rupiah 900,259 970,378 989,811
Total Liability Million Rupiah 478,975 582,682 620,559
Total Equity Million Rupiah 421,284 387,697 369,252
Gross Premium Income Million Rupiah 333,479 378,281 459,218
Net Income Million Rupiah 9,193 5,827 5,148
Number of Employees Total 382 392 400
Male 236 248 257
Female 147 144 143
Number and Composition of Employees by Job Title
Male Female
Number of Level Number of Percentage of Number of Percentage of
Employee Employee (%) Employee Employee (%)
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Entry-Level 156 40.31% 118 30.49%
Mid-Level 69 17.83% 29 7.49%
Senior-Level 11 2.84%
Total Employee 236 - 147 -
Number and Composition of Employees by Age Group
Level of Job Title
Age
Range Entry-Level Mid-Level Senior-Level Executive -Level Total
(years) Employee
Male Female Male Female Male Female Male Female
18-25 3 6 - - - - - - 9
25-35 72 80 14 9 - - - - 175
35-45 58 30 35 13 6 - - - 142
45-55 20 2 18 5 5 - 2 52
>55 3 0 2 2 - - 1 1 9
Number and Composition of Employees by Education
Education 2024 2023 2022
S2 (Master’s Degree) 11 13 14
S1 (Bachelor’s Degree) 289 290 279
D3 (Associate Degree) 43 45 51
SMA (Senior High School) 40 44 39
Total 383 392 400
Number and Composition of Employees by Employment Status
Employment Status 2024 2023 2022
Indefinite-Term Employment Agreement (PKWTT) 324 327 321
Definite-Term Employment Agreement (PKWT) 14 23 37
Outsourcing 45 42 42
Total 383 392 400
List of Shareholders
Composition of Shareholders
Share
No Name Address Total Share
Percentage
1 PT Srihana Utama Plaza Asia, Lantai 10 123,522,776 35.46%
Jl. Jenderal Sudirman Kav. 59, Jakarta
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2 PT Ngrumat Bondo Samudera Indonesia Building, Lantai 7 87,302,164 25.06%
Utomo Jl. Letjend S. Parman Kav. 35, Palmerah,
Jakarta Barat 11480
3 PT Warisan Kasih Bunda Gedung Bank Mandiri Lantai 2/206 81,653,688 23.44%
Jl. Tanjung Karang No. 3-4a Kebon Melati,
Tanah Abang
4 Hastanto Sri Margi
Widodo Permata Puri Blok A-3 No 3 RT001/RW009 782,500 0.22%
President Director
5 Zafar Dinesh Idham
Jl. Wijaya II/44 RT004/RW003 1,050,000 0.30%
Compliance Director
Reniwati
6 Darmakusumah Jl. Cempaka I No.20 RT004/RW011 658,000 0.19%
Director
7 Public 53,418,344 15.33%
8 Treasury Shares - 0.00%
Shareholders who own 5% or more of the issued and paid-up shares for the Period of January
1, 2024 - December 31, 2024
Share
No Name Address Total Share
Percentage
1 PT Srihana Utama Plaza Asia, Lantai 10 123,522,776 35.46%
Jl. Jenderal Sudirman Kav. 59, Jakarta
2 PT Ngrumat Bondo Samudera Indonesia Building, Lantai 7 87,302,164 25.06%
Utomo Jl. Letjend S. Parman Kav. 35, Palmerah,
Jakarta Barat 11480
3 PT Warisan Kasih Bunda Gedung Bank Mandiri Lantai 2/206 81,653,688 23.44%
Jl. Tanjung Karang No. 3-4a Kebon Melati,
Tanah Abang
4 Public 53,418,344 15.33%
5 Treasury Shares - 0.00%
Share Ownerships by Board of Directors
Share
No. Name Address Total Share
Percentage
Hastanto Sri Margi Widodo Permata Puri Blok A-3 No 3
1. 782,500 0.22%
President Director RT001/RW009
Zafar Dinesh Idham
2. Jl. Wijaya II/44 RT004/RW003 1,050,000 0.30%
Compliance Director
Reniwati Darmakusumah
3. Jl. Cempaka I No.20 RT004/RW011 658,000 0.19%
Director
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Areas of Operation
The Company has 10 (ten) branches spread across various locations, namely Jakarta (Jakarta
1 & Jakarta 2 Branches), Surabaya, Malang, Semarang, Pekanbaru, Yogyakarta, Denpasar,
Bandung and Medan. The Company also has marketing offices (Point of Sales / POS) located
in some regions in Indonesia, including Broker Service Division, Purwokerto, Makassar,
Samarinda, Solo, Batam, Lampung, Cirebon, Palembang, Kediri, Balikpapan, Pontianak,
Manado, Jember and Jambi.
Address of Branch Offices
Branch Office Address Tel Regulatory Approval
Surabaya Jl. Gubernur Suryo No. 2, 4, & (T) 031-5340351 S-4793/NB.111/2018
6 (Former Address Jl. Pemuda (F) 031-5340352 dated September 21,
No. 2, 4, & 6) Surabaya 60271 2018
Malang Jl. Letjen S. Parman No. 27 RT. (T) 0341-4378365 S-3596/NB.111/2019
004/RW.11 Kel/Kec (F) 0341-4381869 dated August 20, 2019
Lowokwaru Kota Malang
65141
Jakarta 1 & Jl. RS Fatmawati No.32, (T) 021-7590 2777 S-2697/NB.111/2021
Jakarta 2 Cilandak Barat - Jakarta (F) 021-7590 2555, 7656 287 dated July 30, 2021
Selatan 12430
Semarang Jl. Singosari Raya 35 A (T) 024-8455025 S-301/NB.11/2014
Pleburan, Semarang 50241 (F) 024-8455027 dated January 30, 2014
Pekanbaru Komp. Perkantoran Sudirman (T) 0761 849878 KEP-008/KM.5/2005
Raya Blok C No. 12 Jl. Jend. (F) 0761-859983 dated March 18, 2005
Sudirman, Tangkerang
Selatan, Pekanbaru 28282
Yogyakarta Jl. Dr. Sutomo 47 A Jogjakarta (T) 0274 - 586559, 548745; S-925/NB.11/2016 dated
55211, (F) 0274-588344 April 8, 2016
Kel. Bausasran,
Kec. Danurejan
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Denpasar Jl. Hayam Wuruk 125D (T) 0361-244200, 237955; S-925/NB.11/2016 dated
Denpasar 80235 (F) 0361-226932 April 8, 2016
Bandung Jl. Karapitan No. 20 A (T) 022-4230133 Kep-6648/MD/1986
Lengkong, Bandung 40261 (F) 022-4239229 dated October 13, 1986
Medan Jl. Perintis Kemerdekaan No. 3 (T) 061-4526232 Kep-6648/MD/1986
QR Medan 20111 (F) 061-4155902 dated October 13, 1986
Address of Marketing Offices
Branch Office Address Tel Regulatory Approval
Broker Service Jl. RS Fatmawati No.32, (T) 021-7590 2777 S-192/NB.111/2021
Division Cilandak Barat - Jakarta (F) 021-7590 2555, 7656 287 dated January 18, 2021
Selatan 12430
Purwokerto Jl. S. Parman Ruko No.3 (T/F) 0281-638211 S-2613/NB.111/2022
RT.005/003 Kel. Purwokerto dated July 13, 2022
Kulon Kec. Purwokerto
Selatan Kab. Banyumas
Makassar Ged. Samudera Indonesia Lt. (T) 0411-850214 S-2750/BL/2011 dated
4 Jl. Sungai Saddang No. 82 (F) 0411-850215 March 17, 2011
Makassar 90142
Samarinda Jl. Abdul Wahab Sjahranie, (T) 0541-2526955 S-1191/ NB.021/ 2023
Ruko Sjahranie Center No. 28 (F) 0541-4110838 dated April 06, 2023
Kel. Gunung Kelua Kec.
Samarinda Ulu - Kota
Samarinda
Solo Jl. Raden Mas Said No. 220 (T) 0271-739215, 742214, S-4131/NB.11/2013
Kel. Mangkubumen, Kec. 740614 dated October 30, 2013
Banjarsari, Surakarta 57139 (F) 0271-722220
Batam Ruko Anggrek Mas 2 Blok A2, (T) 0778-4882068 S-269/NB.111/2021
No. 09 dated January 22, 2021
Kelurahan Taman Baloi,
Kecamatan Batam Kota –
29444
Lampung Komplek Ruko Central Niaga, (T) 0721-5616100 S-4036/NB.111/2018
Jl. Sultan Agung No. 7 (F) 0721-5614947 dated August 10, 2018
Wayhalim, Bandar Lampung
35141
Cirebon Jl. Tentara Pelajar No.103- (T/F) 0231-200217 S-1374/NB.111/2021
107, Kel.Pekiringan dated April 20, 2021
Kec.Kesambi Kota Cirebon
Palembang Jl. Inspektur Marzuki No. 40 (T/F) 0711-5611589 S-2076/NB.111/2020
RT. 001, RW. 001, Kel. Siring dated June 09 Juni 2020
Agung, Kec. Ilir Barat, Kota
Palembang, Sumatera Selatan
Kediri Jl. Brigjen Pol Imam Bachri No. (T/F) 0354-672882 S-4131/NB.11/2013
35, Kel. Bangsal, Kec. dated October 30, 2013
Pesantren, Kediri, Jawa Timur
64131
Balikpapan Komp. Perkantoran (T/F) 0542-8860240 S-4131/NB.11/2013
Balikpapan Baru Centra Eropa dated October 30, 2013
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II, Blok AB I No. 5, Balikpapan
6114
Pontianak Jl. Purnama Komp Purnama (T/F)0561-8100352 S-2597/NB.111/2016
Town House Blok C No 1, Kel. dated June 28, 2016
Parit Tokaya, Kec. Pontianak
Selatan, Pontianak, KalBar
78121
Manado Ruko Pasar Segar Paal Dua 0816754581 S-1882/NB.111/2016
Blok RB 15 Jl. Yos Sudarso 0816764581 dated May 25, 2016
No. 12 Kel. Paal Dua, Kec.
Tikala, Manado Sulawesi
Utara- 95129
Jember Jl. Karimata No. 14B RT. 001 (T) 0331-5101989 S-1978/NB. 111/2022
RW. 008 Sumbersari, Jember, (F) 0331-5101929 dated May 30, 2022
Jawa Timur 68121
Jambi Jalan Gajah Mada, RT 30, (T) 0741-3065992 S-765/NB.111/2021
Kelurahan Lebak Bandung, (F) 0741-3065686 dated February 26, 2021
Kecamatan Jelutung, Kota
Jambi.
Telemarketing Jl. RS Fatmawati No.32, (T) 021-7590 2777 -
Cilandak Barat - Jakarta (F) 021-7590 2555, 7656 287
Selatan 12430
IV. Product and Services Provided
The Company is engaged in providing general insurance services, offering a variety of
products including property insurance, motor vehicles, engineering, transportation, hulls,
and miscellaneous. With a network including 10 branch offices, 14 marketing offices, and a
telemarketing department at the head office, We have the ability to serve markets
throughout Indonesia through professional marketing staff trained according to specific
geographic conditions.
With more than six decades of experience, the Company continues to be committed to
improving the quality of human resources, professional work culture, and good corporate
governance. In 2006, the Company carried out Limited Public Offering (LPO) to strengthen
capital and capacity, enabling the Company to withstand greater risks. Since 2008, the
Company has also marketed new affordable products for the retail and micro markets, while
improving risk distribution and achieving satisfactory underwriting results. In 2022, the
Company expanded its business scope by launching the Investment-Linked Insurance (PAYDI,
Asuransi yang Dikaitkan dengan Investasi) product, which reflects its commitment to
continue to innovate and provide the best service to customers.
The Company offers various general insurance business lines, including property insurance
that protects buildings and their contents, motor vehicle insurance, engineering insurance
for construction projects and machine installations, freight insurance, hull insurance, and
various insurance that provides customized products for specific customer needs. In
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addition, on November 22, 2022, the Company obtained a permit to expand its business by
launching an Investment-Linked Insurance Product (ILIP), namely Fleksi Investar Insurance,
combining insurance protection with investment, offering basic and additional protection
benefits as well as motor vehicle and property insurance. More complete information
regarding products and services may refer to the 2024 Annual Report, Company Profile
Chapter.
Premium Earned by Insurance Business Line
2024 2023 2022
Insurance Business Line
Premium % Premium % Premium %
Property 185,302 55.57% 206,389 54.56% 206,403 44.95%
Motor Vehicle 32,311 9.69% 30,963 8.18% 60,123 13.09%
Transportation 23,862 7.16% 24,784 6.55% 20,687 4.50%
Engineering 15,798 4.74% 13,594 3.59% 12,397 2.70%
Hull 24,251 7.27% 37,550 9.93% 83,335 18.15%
Miscellaneous 51,948 15.58% 64,629 17.08% 76,120 16.58%
Unit Link 8 0.00% 372 0.10% 153 0.03%
Total 333,480 100.00% 378,281 100.00% 459,218 100.00%
(*Dalam jutaan rupiah)
V. Association Membership
The Company actively participates in various relevant associations which support the
Company’s business activities. The Company believes that participation in these associations
adds value to the benefits of networks and information on various developments related to
business management and help to convey the aspirations of stakeholders. The following list
is the associations the Company participates in up to the reporting period:
Association Name Membership Status
Dewan Asosiasi Indonesia (DAI) Member
Asosiasi Asuransi Umum Indonesia (AAUI) Member
Indonesia Corporate Secretary Association (ICSA) Member
Asosiasi Emiten Indonesia (AEI) Member
Kamar Dagang dan Industri DKI Jakarta (KADIN DKI Jakarta) Member
Lembaga Alternatif Penyelesaian Sengketa Sektor Jasa Keuangan (LAPS SJK) Member
VI. Significant Changes
During the reporting period, significant change occurred in the Company in the form of
changes to the composition of the Board of Commissioners.
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A. Approving the resignation of Mrs. Shanti L Poespoeningsih as the Company’s President
Commissioner as stated in her letter dated April 18, 2024. Full release and discharge of
responsibility (acquit de charge) for all supervisory actions carried out during her term
of office, as long as such actions are reflected in the Company’s Annual Report and
Financial Statements, effective from the closing of the Companys General Meeting of
Shareholders.
B. Appointing Mr. Ronald Waas as the Company’s President Commissioner effective from
the stipulation date of the Results of the Financial Services Authority’s Fit and Proper
Assessment by the Board of Commissioners Decree of the Financial Services Authority
Number KEP-481/PD.02/2024 dated August 29, 2024 and the term of office ends at the
closing of the 2025 GMS by observing the legislations in the Capital Market Sector,
without prejudice to the right of the GMS to dismiss the Board of Commissioners at any
time before their term of office ends.
C. Separation of Sharia Business Unit
The Company has separated the sharia business unit by transferring the portfolio to an
insurance company that has previously obtained a sharia business license.
As reported regarding the plan to separate the sharia business unit and the approval
letter from the Financial Services Authority through Letter Number S-633/NB.21/2020
dated November 4, 2020, the Company will transfer the sharia insurance portfolio it
owns to a sharia insurance company that already has a business license. The Company
has submitted the First Amendment to the Sharia Unit Separation Work Plan number
059/SK/PDIR-HW/III/2021 dated March 4, 2021 by transferring the membership
portfolio to another sharia insurance company that has obtained a business license. The
deadline for the transfer is no later than October 16, 2024.
The First Amendment to the Sharia Unit Separation Work Plan of PT Asuransi Bintang
Tbk has received approval from the Financial Services Authority through letter number
S-73/NB.21/2021 dated April 6, 2021. On July 11, 2023, a new regulation was issued
regarding the Sharia Unit Separation Work Plan, namely Financial Services Authority
Regulation No. 11 of 2023, concerning the Separation of Sharia Unit of Insurance
Company and Reinsurance Company.
The Company has resubmitted the Amendment to the Sharia Unit Separation Work Plan
(RKPUS 2023) through letter number 238/SK/PDIRHW/X/2023 on October 9, 2023. The
deadline for the transfer is no later than May 30, 2024. The Sharia Unit Separation Work
Plan of PT Asuransi Bintang Tbk has received approval from the Financial Services
Authority through letter number S-229/PD.11/2023 dated November 14, 2023.
The Company has obtained a letter of approval for the revocation of the establishment
permit for the Sharia Business Unit of PT Asuransi Bintang Tbk from the OJK through
letter KEP-642/PD.02/20224 dated November 7, 2024 Regarding the Revocation of the
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Establishment Permit for the Sharia Unit of PT Asuransi Bintang Tbk. By the revocation
of the establishment permit for the sharia unit of PT Asuransi Bintang Tbk, the Company
is prohibited from carrying out any business activities based on sharia principles.
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CHAPTER IV
BOARD OF DIRECTORS’ EXPLANATION
Your Honorable Shareholders and Stakeholders,
With gratitude, we present the sustainability report of PT Asuransi Bintang Tbk (ASBI) for
2024. This report is part of our commitment to continue to innovate in implementing
sustainability principles that integrate economic, social, and environmental factors into
every decision and strategic step we make.
Sustainability is not only about achieving a stable economy, but also about the social and
environmental responsibilities of PT Asuransi Bintang Tbk. In this context, sustainability
becomes core value that not only provides benefits for the company, but also for the public.
We strive for every product and service we offer to create a positive impact in the long
term and conforming with the principles of sustainable development.
Response to Achievement of Sustainable Performance Implementation
PT Asuransi Bintang Tbk has a strong commitment to facing global challenges related to the
implementation of sustainable finance. We recognize that the insurance sector plays
strategic role in driving economic, social, and environmental sustainability. Therefore, we
preserve to innovate, such as by developing data-based insurance products for the
agricultural sector, which not only help farmers deal with extreme weather but also support
national food security. This step is part of our strategy to ensure sustainable finance be
feasible in every operational line.
The Board of Directors plays an active role in formulating policies and strategies related to
sustainability. We ensure that every decision made not only considers economic results but
also its impact on society and the environment. As part of this commitment, we also
prepare internal programs that emphasize the importance of sustainability education for
all employees, as well as building greater awareness of sustainability at all levels of the
company.
Implementation of Sustainable Finance
The implementation of sustainable finance at PT Asuransi Bintang Tbk integrates three
main pillars: economic, social, and environmental. In the economic aspect, we continue to
focus on efficient and stable portfolio management, as well as the development of
insurance products that are not only profitable but also support social and environmental
resilience. On the social side, we ensure that our products bring wider benefits to the
public, such as technology-based insurance products that support sustainability in the
agricultural sector. For the environmental aspect, we have started planning risk
management related to carbon emissions and environmental impacts, as well as optimizing
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the use of technology to improve operational efficiency and reduce the company’s carbon
footprint.
We also continue to monitor performance achievements in sustainable finance using
various relevant indicators. We believe that this achievement is not only about meeting
targets, but also ensuring that every step we take contributes to long-term sustainability.
In 2024, PT Asuransi Bintang Tbk succeeded in achieving a number of strategic targets
related to the implementation of sustainable finance. We successfully launched eco-
friendly weather and agriculture-based insurance products, which have received a positive
response from the corporate sector. We also started an eco-friendly initiative by limiting
risk coverage to industries that produce high carbon emissions, as well as charging higher
premiums for sectors with major environmental impact. In addition, we continue to
improve other eco-friendly measures, such as energy management and reducing paper use.
Strategies to Achieve Target
To achieve long-term goals in sustainability, PT Asuransi Bintang Tbk implements strategies
that include several important aspects:
1. Risk Management
We focus on sustainable risk management by considering economic, social and
environmental aspects. For example, we have decreased the risk for industries with
high carbon emission, and adjusted premium prices by the environmental impact of
these sector.
2. Utilization of Business Opportunity and Prospect
We are committed to utilize any existing opportunities, such as increasing the use of
technology in managing risk, as well as introducing more eco-friendly new products in
line with the trend of community needs. Weather and agricultural-based insurance
products are one real example of how we take advantage of business prospects to
support sustainability.
3. Adjustment to External Situation
We continuously monitor external situations, in terms of economic, social, and
environmental, potentially to affect the company sustainability. By understanding the
existing dynamics, we can take strategic measures to remain relevant and responsive
to any changes. For example, the implementation of PSAK 117 to be effective in 2025
forces us to adapt quickly, and we have prepared the necessary measures to
implement this change with minimal impact.
Appreciation and Commitment to the future
Our success is inseparable from the hard work and dedication of all PT Asuransi Bintang Tbk
personnel, as well as the support of shareholders, business partners, and other
stakeholders. We would like to express our deepest gratitude for the trust.
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In future, we will continue to focus on product innovation that supports sustainability,
better risk management, and strengthening collaboration with all stakeholders to achieve
the set targets. With strong commitment, targeted strategic steps, and the stakeholders
trust, we are confident that PT Asuransi Bintang Tbk is able to continue to grow and provide
greater positive impact on society, the environment, and the insurance industry in
Indonesia.
Thank you for the attention and support to us.
Jakarta, 27 March 2025
Dr. Hastanto Sri Margi Widodo, S.Kom., M.Eng.Sc., AMRP
President Director
PT Asuransi Bintang Tbk
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CHAPTER V
SUSTAINABLE GOVERNANCE
The Company is committed to implementing sustainable governance that promotes the
creation of healthy, transparent business management and builds trust among stakeholders.
The principles and practices of Good Corporate Governance (GCG) applied in this company
are subject to the provisions of applicable regulations, including the Financial Services
Authority Regulation (POJK). More complete information regarding Corporate Governance
may refer to the 2024 Annual Report, Corporate Governance chapter.
Sustainability becomes the foundation for the Company to integrate economic, social and
environmental approaches in every aspect of its business. By prioritizing GCG principles such
as transparency, accountability, responsibility, independence, equality and fairness, the
Company consistently ensures sustainability-oriented decision-making. The Company also
maintains compliance with applicable legislation and business ethics.
This sustainability report is the Company’s Fifth Sustainability Report and constitutes an
integral part of the Company’s Annual Report as complementary unit regardless of separate
publication. We have prepared this report in compliance with Financial Services Authority
Regulation No. 51/POJK.03/2017 concerning the Sustainable Finance Implementation by
Financial Services Institution, Issuer, and Public Company and Circular Letter of the Financial
Services Authority No. 16/SEOJK.04/2021 concerning the Form and Content of Annual
Report of Issuer or Public Company. In line with the sustainability principles, we are
committed to publishing the report annually.
Although the Company currently has no Director specifically in charge of sustainability issues,
the sustainability is effectively implemented and monitored through collaboration between
various internal parties. Several parties involved include the Board of Directors, Legal &
Corporate Secretary, Marketing, Finance & Accounting, Risk Management, Human Resource
Department and General Affairs, to ensure that every step the Company makes is in line with
the sustainability principles and applicable regulations. In order to implement and comply
with POJK No. 51/POJK.03/2017, the Company is committed to prepare Sustainable Finance
Action Plan (RAKB, Rencana Aksi Keuangan Berkelanjutan) by involving various internal
parties in order to integrate sustainability aspects into every aspect of the Company’s
operations. In addition to compiling the RAKB, in the future we hope to make the RAKB one
of the indicators in our KPI.
I. Person in Charge of Sustainable Finance Implementation
Work Unit in charge of Sustainable Finance implementation
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The Sustainable Governance implementation is subject to the Financial Services Authority
Regulation No. 51/POJK.03/2017 concerning the Sustainable Finance Implementation by
Financial Services Institution, Issuer, and Public Company, along with the duties and
responsibilities of the Board of Commissioners, Board of Directors and Sustainable Finance
Related Units.
No Officer Duty and Authority
1 Board of Directors Responsible for the whole management of PT Asuransi
Bintang Tbk’s sustainable finance action programs.
2 Corporate Secretary & Legal Group 1. Accountable to the Board of Directors in respect of
sustainable finance action management
2. Develop Sustainable Finance Action Plan (“RAKB”)
3. Form a sustainable finance action work unit
4. Monitor the sustainable finance action implementation
5. Prepare sustainability report
3 Compliance Group 1. Prepare corporate guidelines for sustainable finance
action
2. Make review and provide recommendation in respect of
compliance aspects of sustainable finance action
program
4 Human Resource Group 1. Recruit employees to fill the specific unit for sustainable
finance management (if necessary)
2. Organize competency improvement training related to
sustainable finance programs
5 Finance Group Prepare planning for accounting and explanation of financial
statements (disclosure) in line with the sustainable finance
implementation and International Sustainability Standards
Boards (ISSB)
6 Accounting Group Prepare planning for accounting and explanation of financial
statements (disclosure) in line with the sustainable finance
implementation and International Sustainability Standards
Boards (ISSB)
7 Marketing Group Market insurance products that support the Sustainable
Finance program
II. Development of Competency on Sustainable Finance
Until the end of 2024, the Company has made several efforts to develop competencies in
sustainable finance, both for the Board of Directors and for related units.
No Name Position Training Competency Organizer
Development Material
1 Ronald Waas President 1. GRC Summit 2024 1. GRC Summit,
Commissioner 2. Asean Global Leadership August 23, 2024
concurrently Program in London 2. AGLP, September
as 3. Role and Responsibility of 2-6, 2024
Independent Commissioner in Restoring 3. ISEA, September
Commissioner Stakeholder Trust 12, 2024
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2 Petronius Saragih Commissioner 1. GRC Summit 2024 1. GRC Summit,
2. Role and Responsibility of August 23, 2024
Commissioner in Restoring 2. ISEA, September
Stakeholder Trust 12, 2024
3 Chaerul D. Djakman Independent 1. Sustainability Risk 1. ICSP, March 27,
Commissioner Management 2024
4 Krishna Suparto Independent 1. GRC Summit 2024 1. GRC Summit,
Commissioner 2. Navigating The Digital Frontier August 23, 2024
in Life Insurance 2. AAJI, May 15-17,
3. Role and Responsibility of 2024
Commissioner in Restoring 3. ISEA, September
Stakeholder Trust 12, 2024
5 Hastanto Sri Margi President 1. How Digital Twins Help 1. AAMAI, June 30,
Widodo Director Insurance to Implement and 2024
Optimize Operations 2. Indonesia Re, July
2. Indonesia Re: Accelerating 24-25, 2024
Transformation in Insurance 3. SPI, July-October
Industry: Driving Growth, 2024
Strengthening Resilience 4. AAUI, October 12,
dated July 24-25, 2024 2024
3. Expert respondent/expert/
stakeholder, in SPI activities,
organized by the Directorate
of Monitoring the Corruption
Eradication Commission, July-
October 2024
4. The 28th Indonesia
Rendezvous
6 Reniwati Director 1. Asia Insurance Review: 23rd 1. Asia Insurance
Darmakusumah Asia Bancassurance Summit Review, January 31,
2. Indonesia Re: Accelerating 2024
Transformation in Insurance 2. Indonesia Re, July
Industry: Driving Growth, 24-25, 2024
Strengthening Resilience 3. GRC Summit,
dated July 24-25, 2024 August 23, 2024
3. GRC Summit 2024
7 Jenry Cardo Director 1. Indonesia Re : Accelerating 1. Indonesia Re, July
Manurung Transformation in Insurance 24-25, 2024
Industry: Driving Growth, 2. PT Adler Manurung
Strengthening Resilience Press
2. Textbook Risk Management: 3. FBI, July 23, 2024
A Reading 4. FBI, July 25, 2024
3. Workshop RE Certification on 5. GRC Summit,
Subject: Bank Risk August 23, 2024
4. Workshop RE Certification on
Subject: Financial Research
Models
5. GRC Summit 2024
8 Zafar Dinesh Idham Compliance 1. Indonesia Re: Accelerating 1. Indonesia Re, July
Director Transformation in Insurance 24-25, 2024
Industry: Driving Growth, 2. GRC Summit,
August 23, 2024
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Strengthening Resilience
dated July 24-25, 2024
2. GRC Summit 2024
9 Mulia Nugraha Compliance & 1. Risk & Governance Summit 1. Otoritas Jasa
Risk 2024 Keuangan,
Management 2. ESG Risk Ratings - Benefits of November 26,
Div. Head Navigating Material ESG Risks 2024
and Communicating Material 2. Bursa Efek
ESG Risks with Stakeholders Indonesia,
3. How to Prevent Money September 18,
Laundering and Terrorism 2024
Financing 3. OJK Institute,
4. Market Conduct September 5, 2024
Implementation Strategy: 4. OJK Institute,
Building Trust and Improving August 8, 2024
IJK (Financial Services
Industry) Performance
10 Nurman Rivai Corporate 1. Strengthening the Integrity
Secretary and Professional Competency
on Risk Management to
Achieve Harmony and Joint
Commitment in Risk
Prevention Quality
Improvement
2. Regulation Number I-I
concerning Stock Split and
Reverse Stock Split by Listed
Company Issuing Equity
Security
3. Talkshow Event “New Era of
Fraud Eradication: Building
Trust in Insurance Industry”
4. Dissemination of Exchange
Regulation Number I-N
Regulation concerning
Delisting and Relisting
III. Risk Assessment on Sustainable Finance Implementation
The Board of Commissioners and Board of Directors of PT Asuransi Bintang Tbk. plays
extremely active role in risk management, specifically to mitigate insurance risk, including
risk governance management, risk management framework, and corporate internal control
system. Supervision is carried out through the Board of Commissioners meeting in
collaboration with the Risk Monitoring Committee. The Risk Monitoring Committee is
responsible for providing recommendations to the Board of Commissioners, by
comprehensive assessment of the Risk Management Policy Guidelines and its
implementation.
The Company implements risk management under Financial Services Authority Regulation
(OJK) No. 28/POJK.05/2020 concerning Assessing the Solvency of Non-Bank Financial
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Services Institution and No. 44/POJK.05/2020 concerning the Risk Management
Implementation by Non-Bank Financial Services Institution. Risk management is
implemented through identification, measurement, monitoring, and evaluation stages at
each business process and work unit, to ensure compliance with applicable regulations and
effective risk management.
Regardless of the Company’s current incapability to identify risks related to sustainability
aspect, risk management remains to be applied in an integrated manner in all business
stages. Each work unit is responsible for identifying, measuring, monitoring, and controlling
risks, which each identified risk is recorded in the list of risks to evaluate the frequency and
impact. Special attention should be paid to high-impact and high-frequency risks so as to
prevent any negative effects on the Company. In its implementation, the Company focuses
on nine types of risks confirmed by the Financial Services Authority (OJK), namely strategic
risk, operational risk, insurance risk, credit risk, market risk, liquidity risk, legal risk,
compliance risk, and reputation risk. More complete information related to company risk
management may refer to the 2024 Annual Report, Corporate Governance Chapter.
Pillars of the Risk Management Implementation
The Company’s risk management implementation includes the following:
1. Active Supervision of the Board of Commissioners and Board of Directors on the
Effectiveness of the Risk Management Implementation in the Company. Therefore, the
Board of Commissioners and Board of Directors are required to:
a. aware of risk information, types of risk, and the level of risk inherent in the
Company’s business activities;
b. provide clear direction in the risk management implementation;
c. actively supervise and mitigate risk;
d. develop the Company’s Risk Management Culture;
e. ensure adequate organizational structure and each duties and responsibilities,
to support effective risk management implementation;
f. ensure adequate quantity and quality of human resources for the effective risk
management implementation.
In the risk management implementation, active supervision of the Board of
Commissioners and the Board of Directors is carried out through:
a. regular Risk Management Committee meetings;
b. regular Risk Monitoring Committee joint meetings;
c. establishing, monitoring and reviewing the risk register mitigation regularly.
d. regularly reporting the results of integrated risk profile assessment.
annual reporting of the Company’s Solvency self-assessment results (good
governance, risk profile, and capital).
e. develop risk awareness through risk management dissemination and/or training.
f. have employees to participate in training, seminars, workshops, and professional
certification.
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2. Adequacy of policies, procedures and determination of risk limits.
Effective Risk Management implementation must be supported by a framework
covering Risk Management policies and procedures and clearly determined risk limits
with the Company’s vision, mission and business strategic.
The Risk Management policies and procedures are compiled by taking into account the
characteristics and complexity of business activities, the level of risk to be taken and risk
tolerance, risk profile, and applicable regulatory provisions. The Company continuously
completes and enhances Risk Management policies and procedures to conform with the
business development and regulatory provisions.
3. Anti-Fraud Strategy and Whistleblowing System (WBS)
As a form of commitment in managing fraud risk in the Company, the Company
implements an anti-fraud strategy, supported by the whistleblowing system. Anti-fraud
strategy is prepared based on Financial Services Authority Regulation No. 12 of 2024
concerning the Anti-Fraud Strategy Implementation by Financial Services Institutions
including:
a. prevention
b. detection
c. investigation, reporting and sanctions; and
d. monitoring of evaluation and follow-up
The Company endeavors to control frauds by adopting adequate internal control system
and implementing early warning system through whistleblowing system and other
measures to prevent frauds. The measures the Company has taken to control frauds
include:
a. regular and continuing inspection of Audits;
b. separation of functions in the organization units by adopting segregation of duties
by applying checker, maker and approver processes and reconciliation at each
business process;
c. apply limit of authority and authorization according to function, responsibility and
competence;
d. Whistleblowing (Complaint of Violation) implementation;
The Company has whistleblowing system in place as channel by which aspirations
are reported and raised safely and assured to be confidential so that the
Company’s employees can participate actively in keeping and disclosing issues
related to misconducts and/or frauds, including, but not limited to bribery and
corruption;
e. Surprise Audit
Surprise Audit implementation refers to the Audit Policies which form an integral
unit of applicable Internal Audit policies;
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f. Surveillance System
Surveillance system is a testing and inspection done without the knowledge or
notice of the party tested or inspected. Surveillance is an investigation technique
based on observation and recording of physical facts, activities and movements
alleged to be part of a fraud;
g. Implement internal control system / control which attaches to any business
process and the system or application used in the ongoing operation of the
Company.
The Company is aware of the importance of Whistleblowing Policy to promote and
maintain conformity of employee’s behaviors, which is part of an internal control of
compliance with Code of Ethics and Code of Conducts, particularly in reducing the risk
of non-compliance with the Company Regulations and abuse of authority. The Company
has Whistleblowing Policy in place as a means to encourage the Company’s Personnel
to report any violation and/or fraud within the Company.
a. Purpose of Whistleblowing System
1) As a means for the whistleblower to report any fraud, violation of the law,
company regulations, Code of Ethics and Code of Conducts, and conflict of
interests without fear or concern since the confidentiality is guaranteed.
2) To detect and prevent any fraud as early as possible.
b. Types of Complaint
Types of complaint which may be raised through whistleblowing line include the
following:
1) Fraud;
2) Violation of law;
3) Breach of Company regulations;
4) Breach of code of ethics;
5) Breach of conflict of interests;
6) Other analogous events;
c. whistleblowing mechanism
Someone who is a whistleblower must have a ground that the person being
reported has taken part in an act that violates Code of Ethics and Code of
Conducts. All reports coming in to the whistleblowing system will be followed up
and the Company will keep the identity of the whistleblower confidential and give
protection to him/her.
d. protection to whistleblower
If a whistleblowing is proved to be true, the Company will give protection to the
whistleblower. This protection includes:
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1) Guaranteed confidentiality of the whistleblower’s identity and the content of
the whistleblowing;
2) Guaranteed protection from any harmful treatment to the whistleblower;
3) Guaranteed protection from any possible threat, intimidation, punishment or
inconvenience from the person being reported.
e. means of complaint
The Company has opened means of complaint by email address:
bintang.bersih@asuransibintang.com
IV. Relationship with Stakeholders
Insurance business management is inseparable from the involvement of stakeholders,
because stakeholders are parties that may affect the running of operational activities or be
affected by the Company. Therefore the Company consistently makes effort to build a
harmonious relationship with stakeholders by involving stakeholders in every decision
making and strategic determination for the Company, including opinion in determining
topics of priority.
Stakeholder Interest Method of Involvement
Shareholder Financial Performance Annual Report
Clear and up-to-date information Annual General Meeting of
relating to corporate actions and Shareholders
strategic directions Extraordinary General Meeting
Non-financial performance of Shareholders (if any)
Insured Product Reasearch and Social Media
Development Sales Channels
Branding Customer complaint handling
Insured needs services, either internally or as
Transparent product information provided by the Authority
Provision of information on
official website of the company
Employee Occupational health and safety Internal line of communication
Personnel development Gathering
Personnel welfare Training, seminar and
certification
Regulator/Government Compliance with regulations
Supervisory function by Financial
Services Authority (OJK) and Regulation socialization and
Indonesia Stock Exchange (BEI) public hearing
Mass Media Company’s external means of Public expose
communication Press release
Access to information on company’s Annual report
performance
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V. Challenges in the Sustainability Implementation
The sustainable finance implementation in the Company faces quite complex challenges,
both external and internal. Externally, regardless of the increasing awareness of the
importance of environmental sustainability, comprehensive dissemination regarding the
concept of sustainable finance is still inadequate. Many parties are not fully aware of how
crucial the role of the company is in maintaining environmental sustainability through
financial policies with sustainability.
Internally, we also realize the needs to build deep understanding of sustainability issues in
all levels of the company. Therefore, more intensive dissemination and special training for
employees are a strategic step to ensure that each individual understands clearly the
sustainability principles, and can apply them in every policies and financial decisions taken.
The Indonesian insurance industry, including PT Asuransi Bintang Tbk, is also inseparable
from the challenges faced by various sectors. However, the company continues to strive to
adapt and move forward with a strong determination to contribute to environmental
preservation. In order to strengthen awareness and promote the sustainable finance
implementation, we actively carry out various Corporate Social Responsibility (CSR) activities
to support natural preservation efforts and increase awareness among employees. Some of
the initiatives we carried out included planting 1,000 trees with the Ministry of Environment
and Forestry (KLHK, Kementerian Lingkungan Hidup dan Kehutanan), commemoration of
Nature Conservation Day and Mangroves Day, as well as the BAF Eco Move Greening
Movement Program.
With these steps, the Company hopes to make positive contributions not only to the
company, but also to the public and the surrounding environment. We believe that through
sustainable efforts, the company can play a greater role in realizing sustainability in line with
the objectives of global development.
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CHAPTER VI
SUSTAINABLE PERFORMANCE
I. Sustainable Cultural Building Activities
PT Asuransi Bintang Tbk’s sustainability value is reflected from its work values and cultures,
which are Spirit, Costumer Focus, Awareness, Trust and Respect and Team Work and
commitment to maintain business sustainability by developing a directed long-term strategy.
Cultural internalization starts from the Board of Commissioners and Board of Directors up to
each work unit head to all employees of the Company, to achieve a series of Go Green
programs and actively manage the environment. In addition, the Company also raises
collective awareness to maintain assets and office inventories and the surrounding
environment.
II. Economic Performance
Direct Economic Value Generated and Distributed
Description 2024 2023
Direct Economic Value Generated
Income 333,479 378,281
Total Economic Value Generated (A) 333,479 378,281
Economic Value Distributed
Cost of Revenue/Operational Cost 80,997 97,685
Employee Salary and Benefits 38,321 34,610
Dividend Payment 997 1,811
Income Tax Payment -7,756 991
Total Economic Value Distributed 112,559 135,097
Total Retained Economic Value (a-b) 220,921 243,184
(*In million rupiah)
Information related to the comparison of target and realization of income and profit and loss
may refer to the 2024 Annual Report, Analysis of Management Discussion chapter.
III. Environmental Performance
Description Description 2024 2023 2022
CO2 Reduction Kg N/A N/A N/A
Tree Planting Tree 23,500 3,500 1,000
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Biodiversity Species N/A N/A N/A
Energy Consumption kWh 323,963 296,892 193
Environmental Data Reporting
Description 2024 2023 2022
Paper Use (Ream) 845 820 740
Electric Power Consumption (Kwh) 323,963 296,892 193,993
Energy Consumption Intensity (KWh/m2) 64 58.8 38.5
Emission from Electric Power Consumption (Kg CO2e)* 255,930.77 234,544.68 152,47
Fuel Consumption (Operational Vehicle – IDR Million) 1,295 1,193 781
Fuel Consumption (Liter)** 129,500 119,300 78,100
Emission from Fuel Consumption (Kg CO2e) 299,015.50 275,463.70 180,332.90
*Calculation uses BI green calculator, with emission conversion factor: 0.79Kg CO2e/KWh
** Using the assumption of Ron 90 price of IDR 10,000/L, and conversion factor: 2.309 Kg CO2e/L
Energy Data
Description 2024 2023 2022
Energy Consumed from Electric Power Consumption (GJ) 1,166.27 1,068,811 -
Energy Consumed from Fuel Consumption (GJ) 4,273.5 3,936.9 2,577.3
Total Energy Consumed from Electric Power and Fuel
Consumption (GJ) 5,439.77 5,005.71 2,577.3
*** Calculation uses KWh to GJ conversion factor: 0.0036GJ
**** Calculation uses L to GJ conversion factor: 0.033GJ
Emission Data (Ton CO2e)
Description 2024 2023 2022
Emission from Electric Power Consumption (Scope 2) 255.93 234.54 0.15
Emission from Fuel Consumption (Scope 1) 299.02 275.46 180.33
Total Emission scope 1 & scope 2 from Electric Power
and Fuel Consumption 554.95 510.00 180.48
*Calculation uses BI green calculator, with emission conversion factor: 0.79Kg CO2e/KWh
** Using the assumption of Ron 90 price of IDR 10,000/L, and conversion factor: 2.309 Kg CO2e/L
Despite of our commitment to continue our efforts to reduce energy consumption and
carbon emissions, this year recorded increased results. This is due to several external factors
that affect the Company’s operations, such as climate change, environmental damage, loss
of biodiversity, natural disasters, declined supply of water and food, etc.
We recognize that despite the increase in energy consumption and emissions, the Company
remains focused on developing and implementing long-term strategies to reduce negative
environmental impacts. We have implemented some initiatives including reducing the scope
of risk coverage for industries that produce high carbon emissions and implementing higher
premium prices for sectors with large carbon impact.
We remain committed to evaluating and adjusting the measures taken to overcome these
challenges. With a more appropriate and adaptive strategy, we are confident that we can
achieve better energy and emission reduction targets in the future. We will also continue to
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involve all relevant parties to find more innovative and sustainable solutions to address these
challenges.
The Company’s Commitment to Sustainability and Environmental Management
The Company is currently unable to provide detailed information regarding water
consumption, waste reduction, effluent, and its environmental impact. We understand the
importance of transparency in this regard and are committed to continuously improving the
natural resources management and reducing negative impacts on the environment.
However, we need to convey that the Company’s main business focus is in the insurance
industry sector, so the direct impact on environmental damage is not that significant.
However, we remain aware that every company activity, both directly and indirectly, may
potentially impact the environment. In this regard, the Company is trying to adapt to this
challenge. We are developing products that not only provide added value for customers, but
also support increased awareness of sustainability. Information related to these products
may refer to the page …..
On the other hand, although we are not yet able to provide detailed information regarding
the use of eco-friendly materials in our products, we are working to increase awareness
regarding the use of more eco-friendly materials and promote the principle of recycling. The
Company continues to strive to improve the implementation of sustainability standards in
each operational line, and we consider that the use of more eco-friendly materials will play
important part of future product innovation.
In addition, the Company has not been able to disclose in detail the operational activities
that impacts positively and negatively on the surrounding environment, especially in terms
of efforts to increase ecosystem carrying capacity. Nevertheless, we remain committed to
continuing to raise awareness of the importance of the environment preservation in every
decision we make, as well as formulating policies that promote environmental sustainability
more comprehensively in the future.
Regarding biodiversity, the Company has also not been able to provide complete information
regarding the impact of operations on conservation areas with high biodiversity. We need to
convey that the Company’s operational location is not near conservation area, thus the
direct impact on biodiversity in the area is insignificant. Nevertheless, we remain committed
to preserve the environment and strive to support other sustainability initiatives delivering
long-term benefits to the whole ecosystem. As part of our efforts to promote environmental
preservation, we have planted trees through Corporate Social Responsibility (CSR) activities.
We realize that this is a small contribution, however we believe that every action has a great
meaning to improve and maintain ecosystem sustainability. This step reflects our ongoing
commitment to play an active role in creating a positive impact on the surrounding
environment. The CSR cost for the environmental program that we spent for this program
reached IDR 55,050,000.- (fifty five million fifty thousand rupiah).
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By these steps, the Company is committed to continuously improving sustainability
performance and providing a positive impact not only on the business aspect, but also on
the public and environment. We hope that by continuing to innovate and adapt, we can
contribute more to sustainability in the long term.
IV. Social Performance
Our company is committed to provide equal and high-quality services for the products and
services we offer to consumers. We ensure that every product and service provided meets
applicable standards and pays attention to consumer satisfaction and needs fairly. We strive
to uphold the principles of fairness and transparency in every interaction with consumers,
and continuously improve the quality of service to create a satisfying experience for all
stakeholders.
Gender Equality
Our Company is committed to provide equal employment opportunities for all individuals
regardless of gender, age, race, religion, or other background. We ensure no discrimination
in the recruitment process or in the work environment. Our Company also strictly prohibits
forced labor and child labor in all our operational lines, in accordance with applicable
legislations and the human rights principles we adhere to.
We ensure that the percentage of remuneration for permanent employees at the lowest
level of our Company meets or even exceeds the applicable regional minimum wage (UMR).
Our Company consistently strives to provide fair remuneration in accordance with applicable
standards, to promote employee welfare and comply with existing legislation.
Description Description 2024 2023 2022
Total Employee Person 383 392 400
Total Male Employee Person 236 248 257
Total Female Employee Person 147 144 143
Employee receiving career
Person 18 32 70
development
Employee Training Person 236 248 257
Total Work Accident during Operational
Frequency Rate - - -
Activities
Male Female
Number of Level Number of Percentage of Number of Percentage
Employee Employee (%) Employee of Employee
(%)
Entry-Level 156 40.31% 118 30.49%
Mid-Level 69 17.83% 29 7.49%
Senior-Level 11 2.84% - -
Total Employee 236 - 147 -
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Total employee by gender, level of job title and age group
Level of Job Title
Age Total
Group Entry-Level Mid-Level Senior-Level Executive -Level Employee
(year)
Male Female Male Female Male Female Male Female
18-25 3 6 - - - - - - 9
25-35 72 80 14 9 - - - - 175
35-45 58 30 35 13 6 - - - 142
45-55 20 2 18 5 5 - 2 52
>55 3 0 2 2 - - 1 1 9
Employee Turnover Rate
Description Total Employee Percentage of Employee
2024 2024
Total Employee Resigned/Terminated 79 Employees 20.41 (%)
Employment
Total New/Replacement Employee 70 Employees 18.09 (%)
Employee Development Training
We are aware of the importance of developing employee competencies and abilities to
achieve Company goals. Therefore, our Company actively provides various training and
development programs for all employees, both technical and non-technical. These training
programs are to improve employee skills, knowledge, and abilities, enabling them to make
more optimal contribution to the Company’s success and individual career development.
Complete information regarding employee training and development may refer to the 2024
Annual Report.
Average Training Hours per Employee Total Employees attending the Percentage of total
in Reporting Year training program employees attending the
training
47 Hours/Employee 383 100 (%)
Total Work Accident
Our Company is committed to creating a safe, healthy and decent working environment for
all employees. We ensure that the working environment meets applicable basic safety
standards, and regularly conduct evaluations to ensure employee comfort and well-being.
We also provide facilities to promote employee welfare, enabling them to work optimally in
a conducive atmosphere and support productivity.
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Public Aspect
Our Commitment to Corporate Social Responsibility (CSR)
The Company is committed to bring continuing positive impact to the surrounding
community through various operational activities that promoting the quality of life
improvement. The Company realizes the harmony between economic, environmental, and
social aspects through the Corporate Social Responsibility (CSR) Program, in accordance with
the provisions of Law No. 40 of 2007 concerning Limited Liability Company. The Company
implements CSR through the Corporate Social Responsibility (CSR) Program.
As part of its Corporate Social Responsibility (CSR), ASBI continues to make efforts to
promote sustainable development goals through various community empowerment
programs. One of them is participating in the Greening Movement Program, providing
Renovation and Stationery Assistance, and 1,000 Trees Planting in commemoration of World
Environment Day. These programs aim to raise awareness of the importance of
environmental sustainability and make real contributions to the welfare of the community
and the earth.
Through the CSR Program, the Company is committed to promote sustainable economic
development, which not only improves the quality of life and the environment, but also
delivers long-term benefits for the Company and the public. The main objective of
implementing CSR is to ensure that both the Company and the community may enjoy the
continuing benefits of each program implemented. To increase the positive impact on the
community, the Company makes the best possible effort to involve the community in various
CSR programs implemented.
No CSR Activity Activity Photo
1 Planting 1,000 trees to commemorate
World Environment Day
Director of Sales and Marketing, Mrs. Reniwati
Darmakusumah represented the Company in this activity.
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2 Commemorate World Nature
Conservation Day and World Mangrove
Day
Director of Sales and Marketing, Mrs. Reniwati
Darmakusumah represented the Company in this activity.
3 Participate in the BAF Eco Move 2024
Greening Movement Program
4 Renovation and Stationery Assistance
Marketing Communication Dept. Head, Mr. Putut Saputro
represented the Company in this activity.
Public Complaint Mechanism
The Company provides a transparent and easily accessible complaint mechanism for the
public. Every complaint received will be followed up earnestly in accordance with established
procedures. We ensure that all complaints are processed objectively and in a timely manner
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to provide adequate solutions. The public can submit complaints related to the social and
environmental impacts of ASBI operations through our call center service at 1500 481 or
send information via email to cs@asuransibintang.com. We have followed up on all
information regarding complaints received.
Responsibility for Product Development
Product Development and Innovation
The Company continues to strive to innovate in product development and product services,
in order to provide products and services that meet public needs. In product development
and innovation, the Company through the Product Development Committee also considers
environmental sustainability aspects in the services and design of products to be marketed.
No Product Name Product Description
1 Index-Based Crop Insurance This Index-Based Crop Insurance (ATBI, Asuransi Tanaman
Berbasis Indeks) product is intended to help farmers reducing
the climate/weather impacts. This product provides
insurance benefits in the form of payment if during the
coverage period there is insufficiency or excess in soil
humidity as compared to the agreed index of soil humidity
levels.
2 Motor Vehicle Insurance – Motor vehicle insurance product is intended for electric/low
Specifically (Electric/hybrid/low emission vehicles to reduce CO2 pollution levels in cities. Using
emission) motor vehicle insurance, this product is offered for sale
through direct selling distribution channels.
3 Eco-Friendly Home Insurance This insurance product is intended for houses that use eco-
friendly/energy-saving equipment such as solar panel, solar
water heaters, etc. Using property all-risk insurance, this
product is offered for sale through direct selling distribution
channels.
The Company regularly evaluates the security of the products and services we offer to ensure
that all products and services provided to customers meet applicable security standards. This
evaluation includes personal data protection, transparency, and protection against any
potential risks that may affect consumers. Currently, a large number of the products and
services we offer have gone through a thorough evaluation process, with the percentage of
evaluations covering almost our entire product portfolio.
In carrying out its operations, the Company is committed to ensuring that the products we
offer consistently meet high quality and security standards. However, in case that any
products do not meet standards or customers make complaints, the Company is ready to
recall the product. To date, no product has been recalled. Every product recall will be carried
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out with transparent procedures and clear communication to consumers, to ensure constant
priority of customer interests.
Customer Satisfaction Survey
The Company continues to strive to improve the quality of its services gradually and
sustainably. To that end, the Company conducts regular customer satisfaction surveys to
obtain input for improving service quality towards Product and Service Excellence. In the
reporting period, the Company measures the level of customer satisfaction across all lines
involving various customer segments.
The customer satisfaction survey is a parameter of the level of customer satisfaction with
the products or services received, as well as to measure the comparison between
expectations and the experience perception. The Company conducts 1 (one) survey annually
by sending messages to all customers through the Company’s information technology
system, which will later direct customers to the Company’s website containing a link to fill
out the customer satisfaction survey.
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Kantor Pusat: Jl. RS Fatmawati No 32 Jakarta 12430 Indonesia Telp : (021) 7590 2777 (hunting) Fax : (021) 7656 287, (021) 7590 2555 email : cs@asuransibintang.com website : www.asuransibintang.com
Names mentioned 36 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.7 ×17
unresolved
org
PT Maskapai Asuransi Bintang
p.12 ×2
unresolved
org
PT Asuransi Kerugian Bintang
p.12 ×2
unresolved
org
Directorate General of Financial Institutions
p.12
unresolved
person
Notarial Deed Mrs. Indah Fatmawati
p.12 ×2
unresolved
person
Poerbaningsih Adi Warsito SH
p.12
unresolved
org
Minister of Justice
p.12
unresolved
org
Minister of Justice Decree No. C
p.12
unresolved
org
Indonesia Stock Exchange
p.12 ×2
unresolved
org
PT Ngrumat Bondo
p.17 ×2
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Wijaya II/44 RT004/RW003
p.17
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—
Cempaka I No.20 RT004/RW011
p.17
unresolved
person
Shanti L Poespoeningsih
p.22
unresolved
org
PT Asuransi Bintang Tbk’s
p.28 ×2
unresolved
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PT Adler Manurung Strengthening Resilience
p.29
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Bank Financial Services Institution. Risk
p.31
unresolved
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Provision of information on
p.34
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org
Supervisory function by Financial
p.34
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Regulation socialization
p.34
unresolved
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public hearing
p.34
unresolved
org
Ministry of Environment and Forestry
p.35
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org
Kementerian Lingkungan Hidup dan Kehutanan
p.35
unresolved
person
Reniwati Darmakusumah
p.41 ×2
unresolved
person
Putut Saputro
p.42
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